Financial / Results – Page 69
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NewsMotor claims costs predicted to rise due to complex repairs – Fitch Ratings
The ‘one-off benefit’ from reduced claims frequency in 2020 may continue for the first half of this year too, however it won’t be as large as last year
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NewsCovid recession could lead to direct claims against insurers under Third Parties Act
Law firm solicitor emphasises that ‘there is potential for increased claims’ against insurers if their policyholders become insolvent
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News2021 set to be ‘less profitable’ year for insurers – Fitch Ratings
Credit ratings agency identifies the key factors that are contributing to market outlooks in the UK
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IT InterviewCovea continues ‘to put the customer at the heart of everything we do’ – Sue Coffey
Plus, the insurer is working to create virtual touch points with intermediaries as it looks to expand its distribution channels
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News AnalysisFCA test case ruling sends shockwaves through insurance industry
The outcome of the FCA business interruption test case appeal will create a series of intended and unintended consequences for insurers and policyholders alike
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FeaturesLondon Market is ‘less competitive than it should be’ – Founder Shield
New York-based broker says the London Market ‘is showing a lack of agility’ and that ‘fewer opportunities will come’ to the capital unless it starts ‘taking more bets with slightly longer odds’
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NewsFCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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NewsQ Underwriting secures capacity to launch new property and package division
A new property owners product will be available for broker partners from February
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NewsHowden Group records 6% organic growth in year to September 2020
Chief executive believes ‘the opportunities that lie ahead for Howden Group are extraordinary’
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NewsMarkerstudy Group reveals £200m investment
Markerstudy Group will use this investment to deliver a sustainable growth programme through a combination of organic and acquisition-led expansion
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Online onlyAllianz eyes carve up of major part of Aviva’s continental business
Allianz is eyeing a carve up of Aviva France, bagging the non-life business, according to reports. The life business would be hived off to its partner in the consortium, Athora, Le Figaro reports. Athora would take the lion’s share of the business, as life makes up £387m operating profits ...
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NewsCovid-19 impact on insurance recruitment revealed
Recruitment stats confirm economic impact of pandemic past year, but more optimistic picture painted for 2021
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FeaturesIn Focus: How can brokers not so keen on private equity ensure succession in their business?
Brokers considering their succession planning have more options on the table than just private equity backing. Industry experts share their views…
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NewsAviva staff to be allowed flexible working on a permanent basis
Insurer Aviva is to shift to permanent homeworking for its staff
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NewsUK insurance market shows ‘divergence’ with London Market prospering while regions suffer
Business interruption will also remain a key risk for 2021, especially for insurers that have non-standard policy wordings, advises ratings agency
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Online onlyBriefing: Gallagher, private equity and acquisitions
Gallagher’s acquisition of Bollington is in its ’sweet spot’ range, so what does it mean for the market?
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FeaturesBusinesses set to shun D&O cover due to sky-high premiums
As the coronavirus pandemic puts directors’ and officers’ premiums into overdrive, Insurance Times takes a look at potential claims risks and trends in this section of the market
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News‘Being prepared is key’ – FSCS chief executive Caroline Rainbird on navigating the next financial crisis
The Covid-19 pandemic has seen businesses work in “unprecedented circumstances”, according to the FSCS chief executive. She tells Insurance Times how the pandemic has allowed the firm to think differently
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NewsCar insurance premiums fall 6% amid lockdown - Confused.com
Fewer journies and consequently claims saw premiums decline significantly last year
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